Bakelite Synthetics has officially announced its definitive agreement to acquire LRBG Chemicals, Inc., a prominent resin manufacturer and developer based in Canada. LRBG Chemicals has established facilities in Longueuil, located in Montreal, Quebec.

Through this strategic acquisition, Bakelite Synthetics is poised to enhance its already robust product portfolio and customer base. The move aligns with Bakelite Synthetics' growth strategy of providing innovative, sustainable solutions to its clients. LRBG Chemicals specializes in producing high-quality resins and derivative products that find applications in a diverse range of industries including building and construction, transportation, industrial manufacturing, and the chemical intermediate sector on a global scale. With nearly eight decades of experience, LRBG Chemicals possesses deep knowledge and expertise, having developed its plants, capabilities, and insights over the years. The company maintains a strong focus on customer-oriented research and development, backed by comprehensive technical support—a philosophy that resonates with Bakelite Synthetics' own business model.

JP Aucoin, the President and Chief Executive Officer of Bakelite Synthetics, emphasized the significance of this acquisition. He highlighted that the deal allows Bakelite Synthetics to expand its reach into Canada and more effectively serve the northeastern regions of both Canada and the United States. Aucoin expressed excitement about the prospect of integrating LRBG Chemicals' team into Bakelite Synthetics, given their history of personalized product development and exceptional customer service. The acquisition is viewed as an opportunity to drive the growth of both entities.

Headquartered in Atlanta, Georgia, the combined entity will consist of approximately 1,500 associates and operate across 21 manufacturing sites in 12 countries.

The transaction is expected to conclude in August, pending the fulfillment of customary regulatory approvals and other standard closing conditions.

 

Source: businesswire.com

Report Abuse